PwC appointed independent financial adviser to OSIM privatisation deal

PRICEWATERHOUSECOOPERS Corporate Finance has been appointed the independent financial adviser (IFA) to advise the board of OSIM International on the bid by OSIM founder Ron Sim to privatise the company at S$1.32 a share.

A circular containing the IFA advice and the recommendations of the independent directors on the offer will be sent to shareholders within 14 days of the despatch of the offer document.

The offer will be valid for at least 28 days from the date of the posting of the offer document, which should be in the coming week.

Two weeks ago, Mr Sim announced his bid for the remaining 30.75 per cent stake in the company that he and his family do not own.

Since then, OSIM, a lifestyle products group known for massage chairs, nutritional supplements and luxury tea, has traded above the offer price.

Shares last traded unchanged at S$1.38.